Lloyd’s Revises Harvey, Irma And Maria Claims Estimates To $4.9B

 Tuesday, October 24, 2017

 Canadian Underwriter

Lloyd’s has revised its net claims estimates for Hurricanes Harvey and Irma to a combined US$3.9 billion, plus a preliminary claims estimate for Hurricane Maria of US$0.9 billion. In a statement on Monday, Lloyd’s also reported that the world’s specialist insurance market has so far paid almost US$900 million in claims for Harvey, Irma and Maria. On Oct. 12, Lloyd’s said that it had paid US$738 in response to Hurricanes Harvey, Irma and Maria. Jon Hancock, Lloyd’s performance management director, said that the claims estimate for Harvey and Irma has reduced approximately 10% from the precautionary figure Lloyd’s issued with its half-year results last month.